AGRA, India (Sept 21): India's palm oil imports in 2022/23 could jump 9% from a year earlier on a rise in domestic consumption and as competitive prices allow the tropical oil to regain its share in the world's biggest market, a Reuters survey showed on Wednesday.
The higher buying could help top producer Indonesia in bringing down ballooning inventories and support benchmark Malaysian palm oil prices, which have nearly halved from record highs earlier this year.
JAKARTA (June 14): Indonesia on Tuesday issued new regulations on palm oil export taxes, detailing the recently announced levy rate cut to accelerate shipments that have been slow to rebound after the ending of an export ban.
But the levy rate will be raised in August, according to the finance ministry regulations, sparking concerns from an industry group.